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re: I'm about to inherit some Standard Oil stock from my grandparents.
Posted on 10/3/17 at 6:56 am to cave canem
Posted on 10/3/17 at 6:56 am to cave canem
quote:
property acquired by a spouse with separate things or with separate and community things when the value of the community things is inconsequential
quote:
this part I find interesting, can anyone elaborate exactly what this means, or exactly what are "seperate things"?
Separate (spelled with two A's because there is "a rat" in separate) things are separate property, such as cash or stock you owned before you got married, land you inherit, etc.
If you use your separate property (inherited stock) to acquire something else (hunting camp), the new item is also/still separate property. The rule applies even if you used $300 of community money (an inconsequential amount compared to value of camp; it's a nice one) to pay the appraiser.
If you use your inherited stock to put a down payment on the camp, finance the balance, and use community income to make the mortgage payments, you screwed up. You have either commingled separate and community and made the whole camp community, or you will need a CPA and two divorce lawyers to sort it out. This is the kind of dumb shite that many people do to screw themselves out of their separate property.
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